Complexity analysis of a Cournot-Bertrand duopoly game model with limited information
type: Item
instance of: scholarly article
title: Complexity analysis of a Cournot-Bertrand duopoly game model with limited information
zbMATH Open document ID: 1264.91066
DOI: 10.1155/2013/287371
author: Hongwu Wang
author: Junhai Ma
published in: Discrete Dynamics in Nature and Society
publication date: 2013-06-13T00:00:00Z
review text: Summary: A Cournot-Bertrand mixed duopoly game model with limited information about the market and opponent is considered, where the market has linear demand and two firms have the same fixed marginal cost. The principles of decision-making are bounded rational. One firm chooses output and the other chooses price as decision variable, with the assumption that there is a certain degree of differentiation between the products offered by firms to avoid the whole market being occupied by the one that applies a lower price. The existence of Nash equilibrium point and its local stability of the game are investigated. The complex dynamics, such as bifurcation scenarios and route to chaos, are displayed using parameter basin plots by numerical experiment. The influences of the parameters on the system performance are discussed from the perspective of economics.
Mathematics Subject Classification ID: 91B54
Mathematics Subject Classification ID: 91A40
zbMATH DE Number: 6175060
Wikidata QID: Q58921480
describes a project that uses: E&F Chaos
MaRDI profile type: Publication
full work available at URL: https://doi.org/10.1155/2013/287371
OpenAlex ID: W1998312991
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description: scientific article; zbMATH DE number 6175060